June 1, 2011

Funding for east to be cancelled?

As north Sudan moves toward a more Islamic model for ruling the nation, the government has recognized that taking loans involve paying interest. Yet Islam says that usury is wrong.

Concerns have been raised at receiving money for development. Parliamentarians are balking at taking loans from Kuwaiti Economic Development Fund and the Arab Fund for Socio-Economic Development.

Both of these sources have been previously identified on this blog as sources for the development of the east. Pledges were made at the Kuwait Donors Conference in December 2010.

In an effort to be good muslims, Sudan's government may be denying funds that provide infrastructure, jobs and the development to the people in east Sudan.

Promises for $500 million for east Sudan have been made by Kuwait. This could be a combination of loans and grants. We noted a $50 million grant [not a loan] on March 7.

Pledges of Arab Fund for Economic and Social Development amounted to $210 million.

As initially reported in http://allafrica.com/stories/201106010507.html

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